What kind of Blockchain does my organisation need?

Once you have confirmed that your organisation needs to incorporate blockchain technology into its operation, there is one more question you must ask – What kind of blockchain does my organisation need?
Your question can be answered by understanding what your specific requirement is with respect to characteristics that are associated with your need for blockchain technology incorporation. In addition to this, you can better understand some of the advantages and disadvantages of the different types of blockchains.

The characteristics that you need to look for in your blockchain are:

Authority, Control & Trust

Business Context

Access Rights

Accountability, Legal Standing

Deployment Style

Record Immutability

Consensus Mechanism

What kinds of blockchains exist?

Private Permissioned

Operated by one entity. These Blockchains value efficiency over anonymity, immutability and transparency. For example, Ripple.

Public Permissioned

Single Industry – Operated by known entities such as stakeholders of one industry. They value immutability and efficiency over anonymity and transparency.

Public Permissioned

Multi-Industry – Operated by known entities such as stakeholders across multiple industries. They value immutability and efficiency over anonymity and transparency.

Permissionless

Anyone can be a user or run a node. Generally speaking public Blockchains such as Bitcoin value anonymity, immutability, and transparency over efficiency. This means your identity can be safe as you purchase goods online

Characteristic

Private Permissioned

Public Permissioned : Single Industry

Public Permissioned : Multi Industry

Permissioniess

Authority, Control and Trust

Ledger management facilitated by a single company for private use -- centralised trust

Ledger management facilitated by an industry utility, open to limited public use -- semi-centralised trust

Ledger management facilitated by an industry utility or open to public use -- semi-centralised trust